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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
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Monday, June 16, 2008
Essilor Agrees to Acquire Satisloh The World Leader in Optical Manufacturing Solutions
Comtex
CHARENTON-LE-PONT, France, Jun 16, 2008 (PR Newswire Europe via COMTEX) ----Essilor and the Swiss company Schweiter Technologies AG announced today that they have signed a share purchase agreement whereby Essilor will offer to acquire the shares of Schweiter subsidiary Satisloh Holding AG. The agreement is subject to certain conditions precedent, including approval by competition authorities in Satisloh's main host countries. The acquisition could be completed in the second half of the year.
Created by the merger of Satis and Loh in 2004, Satisloh has a global distribution network and is the world's leading supplier of prescription laboratory equipment. It manufactures and markets antireflective coating units and surfacing machines, as well as consumables. The company reported revenues of EUR161 million in 2007 and has more than 400 employees. Led by the same management team and based in its current locations, Satisloh will continue to develop innovative solutions for all its customers.
In the future, the combination of Essilor and Satisloh's research capabilities and expertise will make it possible to offer all industry participants a broader, more competitive range of products and services, while shortening time to market cycles for new production processes. For Essilor, the acquisition not only opens up a new area of business, it also offers a strong fit with the Company's strategy of innovation and the development of services for prescription laboratories, optical chains and eye care professionals around the world.
--------------------- A conference call in English will be held today, at 10:00 am CEST. The number to dial is: +33(0)1-70-99-42-79. The number to dial for replay from June 16th to June 18th will be +33(0)1-71-23-02-48 - Access code: 6662941#. The conference will also be available at http://www.essilor.com/Satisloh-Acquisition from June 17th. ------------------------
Essilor International is the world leader in ophthalmic optical products, offering a wide range of lenses under the flagship Varilux(R), Crizal(R), Essilor(R) and Definity(R) brands to correct myopia, hyperopia, presbyopia and astigmatism. Essilor operates worldwide through 15 production sites, 270 lens finishing laboratories and local distribution networks. The Essilor share trades on the Euronext Paris market and is included in the CAC 40 index. (ISIN: FR 0000121667; Reuters: ESSI.PA; Bloomberg: EF FP).
------------------------ Investor Relations and Financial Communications Veronique Gillet - Sebastien Leroy Phone: +33(0)1-49-77-42-16 http://www.essilor.com
Investor Relations and Financial Communications, Veronique Gillet - Sebastien Leroy, Phone: +33(0)1-49-77-42-16
Copyright (C) 2008 PR Newswire Europe
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